Used for over a year
I used SimBull for over a year and no longer use. Thought I would give a review of my experience.
PROS: First it is a legit service. I deposited $100 and through winning payouts and referral bonuses, I was able to successfully withdrawal to my PayPal account. I also never had any issues with receiving winnings and really love the idea.
CONS: The app crashes regularly and is not the best built. Can be frustrating to have to reopen multiple times just to place 1 order. Additionally, there is not large volume of users so buy and sell orders don’t get activated.
And finally the main reason I recently closed my account is I don’t think it’s sustainable. I am not sure how this company makes a profit when paying out winnings and only taking a small percentage on each trade. I wanted to love this app, but don’t see it being around long term.
PROS: First it is a legit service. I deposited $100 and through winning payouts and referral bonuses, I was able to successfully withdrawal to my PayPal account. I also never had any issues with receiving winnings and really love the idea.
CONS: The app crashes regularly and is not the best built. Can be frustrating to have to reopen multiple times just to place 1 order. Additionally, there is not large volume of users so buy and sell orders don’t get activated.
And finally the main reason I recently closed my account is I don’t think it’s sustainable. I am not sure how this company makes a profit when paying out winnings and only taking a small percentage on each trade. I wanted to love this app, but don’t see it being around long term.
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Don’t be stupid like me
I don’t know why I gave these people a cent. Big mistake.
The business model doesn’t even make sense. Where are they getting the money to pay out dividends? How does this app generate money? Through fees? OK, best case scenario for these developers, this app gets millions of downloads with tens of millions of transactions per day. Wouldn’t that just drive up the price of a team to be so astronomical that the dividend payout wouldn’t even be worth it? A good team now will run you about $40 per share. Say it’s an NBA team. You get $0.10 per win. So you’re paying $40 to make 10 cents. Now imagine there’s millions of actual users and the price gets driven up to $100, $200, $500 per share??? Nobody in their right mind would pay that type of money, even if the team goes 82-0, you’re better off putting that money in a savings account at 1% interest.
I played around for like 6 months and made around $40 on my initial $170 investment, counting both what I made in dividends and “share value increases.” When I go to withdraw my $210ish, they say the max I can withdraw is $170, minus processing fees. Great, OK, whatever, fine, just give me my money back, oh wait, the app crashed (like it always does) and now it says I have insufficient funds in my account to make a withdrawal.
This is terrible app design at best and fraud at worst. Don’t be stupid like me.
The business model doesn’t even make sense. Where are they getting the money to pay out dividends? How does this app generate money? Through fees? OK, best case scenario for these developers, this app gets millions of downloads with tens of millions of transactions per day. Wouldn’t that just drive up the price of a team to be so astronomical that the dividend payout wouldn’t even be worth it? A good team now will run you about $40 per share. Say it’s an NBA team. You get $0.10 per win. So you’re paying $40 to make 10 cents. Now imagine there’s millions of actual users and the price gets driven up to $100, $200, $500 per share??? Nobody in their right mind would pay that type of money, even if the team goes 82-0, you’re better off putting that money in a savings account at 1% interest.
I played around for like 6 months and made around $40 on my initial $170 investment, counting both what I made in dividends and “share value increases.” When I go to withdraw my $210ish, they say the max I can withdraw is $170, minus processing fees. Great, OK, whatever, fine, just give me my money back, oh wait, the app crashed (like it always does) and now it says I have insufficient funds in my account to make a withdrawal.
This is terrible app design at best and fraud at worst. Don’t be stupid like me.
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Excellent App, Trustworthy Company
Solid experience!
RUN AS FAST AS YOU CAN
I had high hopes… app crashes every 2 min, the layout is really confusing and you can’t cash out!! Total scam.
App closes
The app keeps closing by itself. Trying to make trades and it closes.
